While 2021 taxes aren’t due for months, there are some moves that need to happen before year’s end to minimize your tax liability. Ideally, your accountant should be … Read More
If you only hear from your accountant at tax time, you are likely settling for a business accountant relationship that is not serving you or your business well. Don’t think of your CPA as just a necessary expense required for … Read More
The CARES Act allowed traditional IRA owners who were adversely affected by the COVID-19 pandemic to take a tax-favored Coronavirus distribution of up to a combined limit of $100,000 from one or more of their traditional IRAs in 2020.
You … Read More
With the IRS changing tax laws more than taxpayers can keep up with, tax return mistakes are inevitable when filing your taxes. Your mistakes will either cause you to underpay or overpay on your taxes. But, don’t fear, there … Read More
The IRS continues to warn people of tax-related identity theft scams, especially regarding your personal financial and tax information. With these types of theft cases continuing to rise every year, it’s crucial to stay up to date on the latest … Read More
Did you know roughly 99% of taxes due on wages are paid to the IRS, but compliance on other sources of income is only estimated to be about 45%? The IRS has definitely discovered that Americans are most likely only … Read More
As a self employed business owner, you are in charge of finding a tax reduction strategy that benefits you. We’re discussing four tax reduction strategies that will apply to you if you operate your business as a proprietorship. As always, … Read More
Small businesses can’t afford a full-time CFO, but nor do they need one. They need the higher-level expertise of a CFO only a few hours a week or even just a few hours a month. Businesses often have a lower-level … Read More
As a small business owner, you usually end up wearing a lot of hats. One day you might be the CFO and another day you might be an HR recruiter. While this can be stressful and time consuming, it’s also … Read More
DCAA stands for The Defense Contract Audit Agency. This agency handles audit and financial services for Department of Defense employees and other federal entities who are responsible for acquisition and contract administration. Government contractors have a demanding set of accounting … Read More
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